Millennials’ Career Perspective and Psychological Contract Expectations: Does the Recession Lead to Lowered Expectations?
De Hauw, Sara De Vos, Ans
De Hauw, Sara
De Vos, Ans
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2010-06
Journal
Journal of Business and Psychology
Book
Publication Volume
25
Publication Issue
2
Publication Begin page
293
Publication End page
302
Publication Number of pages
Collections
Abstract
PurposeThe purpose of this study was to investigate the effect of generational, contextual, and individual influences on Millennials’ career expectations.Design/methodology/approachTwo matched samples of Millennials graduating in 2006 (n = 787) and 2009 (n = 825) filled out a questionnaire regarding their psychological contract expectations, career strategy, and optimism about the labor market in completely different socioeconomic contexts.FindingsRecession is related to lower levels of optimism. During times of recession, Millennials lower their expectations regarding the work-life balance and social atmosphere. However, their expectations regarding job content, training, career development, and financial rewards remain high, suggesting that these expectations are largely embedded within the generation. Moreover, Millennials’ expectations are significantly influenced by individual variables, careerism, and optimism.ImplicationsThis study suggests that managers need to focus their limited resources during times of recession on meeting Millennials’ high expectations regarding their development and careers. Because violating these high expectations can have detrimental effects on a number of outcomes, organizations are encouraged to discover creative and inexpensive ways to provide Millennials with meaningful work, plenty of learning opportunities and career development.Originality/valueBy comparing two matched samples of Millennials in two different situations, this study was able to disentangle generational, contextual, and individual influences on Millennials’ psychological contract expectations.
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Keywords
3505 Human Resources and Industrial Relations, 35 Commerce, Management, Tourism and Services